Bank M&A Activity And IPOs Tick Higher In 2014

Royal Bank of Scotland Group plc (ADR) (NYSE:RBS) (LON:RBS) has said it will sell 140 million shares in its US banking unit Citizens Financial Group Inc in the price range of $23 – $25 per share. Company executives are now in the midst of a two-week roadshow to help build interest in the IPO, which is expected to raise about $3.5 billion and has the potential to be the biggest new floatation from a bank over the last five years. At the higher end of the pricing, Citizens could earn a valuation of $14 billion. Providence, R.I. based Citizens has 1,370…